Actuary, Annuity Valuation

Date: Aug 1, 2019

Location: Radnor, PA, US

Company: Lincoln Financial

Alternate Locations: Fort Wayne, IN (Indiana); Greensboro, NC (North Carolina); Hartford, CT (Connecticut); Radnor, PA (Pennsylvania)

Relocation assistance is not available for this opportunity.

Requisition #60272

About the Company

Lincoln Financial Group, a Fortune 250 company with over 10,000 employees, provides advice and solutions that help empower Americans to take charge of their financial lives with confidence. Our core business areas — Life Insurance, Annuities, Retirement Plan Services and Group Protection — focus on supporting, preserving and enhancing over 17 million customer’s lifestyles and retirement outcomes.

Headquartered in Radnor, Pennsylvania, Lincoln Financial Group is the marketing name for Lincoln National Corporation (NYSE: LNC) and its affiliates. The company had $238 billion in assets under management as of December 31, 2018.

Ranked one of the Best Large Employers in America by Forbes magazine, Lincoln Financial Group makes a serious investment in our employees’ futures through a broad range of wealth accumulation and protection plans, health and wellness programs, and career development resources designed to help each individual reach their personal and professional goals.


The Role 

The Actuary, Annuity Valuation role will support the Annuity & Retirement Plan Services Qualified Valuation Actuary (“Annuity Qualified Actuary”) in developing, prototype modeling, optimizing and documentation of valuation frameworks for products in the Company’s Annuity and Retirement Plan Services lines of business, as well as monitoring implementation of the frameworks and reported results to ensure compliance.  The valuation frameworks encompass statutory, GAAP and tax reserves, DAC and other intangible items and reinsurance, and the role will include keeping up-to-date on the applicable regulations and requirements as well as new products. 


In this role you will support the Annuity Qualified Actuary and Corporate Appointed Actuary to ensure compliance with statutory regulations and support the Annual Actuarial Opinion and memoranda work relating to Asset Adequacy Testing and Principles Based Reserves and Annual Statement actuarial items.  You will also support the Annuity Qualified Actuary in collaboration with Corporate and Business Unit Accounting areas in developing, modeling and testing GAAP valuation frameworks that meet requirements and optimize results, including upcoming FASB LDTI requirements.


In this role you will have opportunity to be creative in developing, modeling and optimizing valuation frameworks, present analysis on projects to various key stakeholders including the Annuity Pricing and Valuation SVP, the Annuity CFO and FP&A team, the Corporate Valuation and Modeling teams, the Corporate Appointed Actuary and the Corporate Enterprise Risk and Market Risk Management teams.




1.  Strong familiarity with Annuity statutory and GAAP valuation requirements and Annuity financial modeling

2.  Strong modeling experience (e.g., valuation or projection modeling systems, Excel, VBA, database or other programming skills)

3.  Strong communication and collaboration skills to successfully drive improvements and change within the assigned responsibilities




Valuation Framework Development, Prototype modeling and Optimization

  • Maintain close familiarity and knowledge of the following in the context of valuation requirements:
    • new products and riders, equity indices, variable fund strategies and hedging strategies,
    • in-force liability and asset portfolio results as they emerge based on experience,
    • existing and new reinsurance agreements,
  • Determine statutory, tax and GAAP valuation frameworks that meet regulatory and GAAP requirements and optimize approaches for the Company at a micro and holistic level, working with stakeholders as needed
  • Build prototype models to test valuation framework approaches under several capital market and actuarial assumption scenarios
  • Document and communicate valuation frameworks and model office testing to stakeholders
  • Review and test the implementation of the valuation frameworks by the Corporate Valuation and Modeling teams to ensure compliance with frameworks and that actual results emerge as intended
  • Provide actuarial support for state filing or compliance requests as needed
  • Support Pricing and Product Development to ensure that their modeling of reserves and GAAP items aligns with the valuation frameworks and actual reporting
  • Support Annual Statement filings as needed
  • Support the Annuity Qualified Actuary to maintain detailed knowledge of existing and developing valuation statutory and tax regulations and GAAP accounting guidance in the industry
  • Proactively participate in key NAIC, ACLI and AAA committees and working groups, as coordinated by the Corporate Appointed Actuary
  • Evaluate and respond to potential/proposed changes in requirements
  • Proactively identify and drive enhancements to the regulation and GAAP guidance discussions where possible
  • Provide updates/dashboards to key Company stakeholders on emerging developments
  • Design and develop model modifications as needed to enable analysis of complex actuarial issues
  • Review modeling work of other teams and advise on improvements as needed



  • Effective written and verbal communication with several key stakeholders on valuation issues, analyses and frameworks


Organizational Effectiveness

  • Works and provides direction on complex assignments, projects, and/or initiatives collaborating across teams to build and enhance the capability of his/her assigned area(s) of responsibility
  • Directs and enhances organizational initiatives by positively influencing and supporting change management and/or departmental/enterprise initiatives within assigned area(s) of responsibility
  • Identifies and directs the implementation of process improvements that significantly improve quality across the team, department and/or business unit for his/her assigned area(s) of responsibility
  • Maintains knowledge on current and emerging developments/trends for assigned area(s) or responsibility, assess the impact, and collaborates with senior management to incorporate new trends and developments in current and future solutions





  • Undergraduate degree; educational concentration in Actuarial Science, Mathematics, Economics, or Applied Science is preferred.
  • FSA designation is preferred



  • 5-7+ years of experience in Actuarial positions that directly aligns with the specific responsibilities of the position.
  • Modeling experience is required (e.g., valuation or projection modeling systems, Excel, VBA, database or other programming skills).
  • A demonstrated track record of consistently meeting and/or exceeding performance expectations.
  • Possesses a bias for action and avoids workplace distractions.
  • Drives performance targets to completion
  • Strong communication and problem solving skills
  • Ability to quickly learn and apply new skills and information
  • Strong curiosity and the ability to generate new ideas



This position may be subject to Lincoln’s Political Contribution Policy. An offer of employment may be contingent upon disclosing to Lincoln the details of certain political contributions. Lincoln may decline to extend an offer or terminate employment for this role if it determines political contributions made could have an adverse impact on Lincoln’s current or future business interests, misrepresentations were made, or for failure to fully disclose applicable political contributions and or fundraising activities.

Any unsolicited resumes/candidate profiles submitted through our web site or to personal e-mail accounts of employees of Lincoln Financial Group are considered property of Lincoln Financial Group and are not subject to payment of agency fees.


Lincoln Financial Group ("LFG") is an Equal Opportunity employer and, as such, is committed in policy and practice to recruit, hire, compensate, train and promote, in all job classifications, without regard to race, color, religion, sex (including pregnancy), age, national origin, disability, sexual orientation, gender identity and expression, veterans status, or genetic information. Opportunities throughout LFG are available to employees and applicants and are evaluated on the basis of job qualifications. We have a drug free work environment and we perform pre-employment substance abuse testing.


Nearest Major Market: Philadelphia

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